Without the work of Elvis Presley, it’s hard to imagine what music – or at least rock ‘n’ roll – would look like today. The Mississippi native is the subject of Netflix’s new documentary, Return of the King, which examines his triumphant comeback in 1968 after multiple factors led to a public fall from grace. Despite the exuberant lifestyle he lived at the height of his career, Presley came from a humble family with a stay-at-home mom, Gladys, and father, Vernon, who did odd jobs to make ends meet. The family patriarch was arrested when Elvis was only three after altering an employer’s check to support his wife and children.
Growing up in Tupelo, Presley found a love for music at church and while hearing jazz songs playing in the streets. He was reportedly an average student, but his natural talent for music impressed teachers (despite the future icon being too shy to perform for others). Presley moved to Tennessee in 1948 at 13 and continued studying music, although he failed the class in school; there, he trained with accomplished guitarists but didn’t know how to read music, instead playing by ear. At the time, Elvis Presley couldn’t possibly have imagined the future that lay ahead, from tying the knot with Priscilla and welcoming their daughter, Lisa Marie to selling over 600 million records and singles globally. Knowing he’s had such an impactful career, let’s explore The King’s net worth and major achievements before his untimely 1977 death.
Sam Phillips Wanted Elvis Presley’s Help Marketing Black Music to White Audiences
After he graduated high school, Elvis Presley recorded two singles at Memphis’ Sun Records where he networked with label boss Sam Phillips. The young man headed off to work as a truck driver since music wasn’t yet paying his bills, but Phillips quickly called him back. At the time, the executive wanted to find a way to market Black music to a White audience and he believed that Presley could help him with this. They ran into issues along the way, with country DJs avoiding Presley for sounding “too Black” and blues stations comparing him to “a hillbilly.”
The black-haired heartthrob gave his first live performance in 1954; he was 19 at the time, and couldn’t stop his knees from shaking due to nerves. This turned out to be exactly what audiences wanted as women went wild for Presley’s controversial stage moves, which some deemed “unfit for family viewing.” RCA Records took note of the “That’s All Right” hitmaker’s talent, acquiring his Sun Records contract for $40K the year after his debut. In 1956, the rising star’s first album came out, making major waves thanks to a cover of Carl Perkins’ “Blue Suede Shoes” that helped introduce what’s now known as rock ‘n’ roll. He also made his feature film debut at this time in the Western musical, Love Me Tender.
After Serving in the Military, The King’s Choice to Focus On Movies Damaged His Career
Even with his celebrity status, Elvis Presley was still called to serve in the U.S. Army, which he dutifully obliged. To keep cash flowing in during his absence, management continued to release singles on The King’s behalf. The multi-talent could’ve enlisted in the Special Sevices but chose to be a regular G.I. instead as an act of solidarity toward everyday Americans. During his time away, Presley’s mother fell ill; he was granted leave to visit Gladys just days before she died of heart failure, devastating the family.
Upon returning, music lovers were eager to hear what would be next for the Southerner. To their surprise, he shifted his focus from the recording studio to film sets, appearing in several musical comedies and creating their accompanying soundtracks. Some felt they could no longer take Presley seriously, resulting in a massive hit to his reputation. After struggling through the early ’60s, the “Are You Lonesome Tonight” artist made a comeback later in the decade, as explored in Netflix’s new documentary with a series of TV performances and nostalgia-fueled tours.
At His Time of Death, Elvis Presley’s Net Worth Was $5 Million
According to Celebrity Net Worth, when Elvis Presley died in August 1977, he had an estimated value of $5 million. Taking inflation into account, this equates to roughly $20M in 2024. At the peak of his career (when he was making a reported $1M per performance), the father of one had a higher net worth, though he blew through his savings while battling an addiction to prescription drugs and maintaining his luxurious Graceland estate. Before 1957, Presley had made $22M in merchandise sales alone, proving how popular he was.
Beyond what The King managed to accomplish while he was alive, his estate has gone on to earn hundreds of millions thanks to licensing royalties. The 2022 Elvis biopic starring Austin Butler, for example, grossed $288M, becoming the second-highest-grossing music biopic ever, following Bohemian Rhapsody. He may have left the building, but Elvis Presley’s impact on music can never be forgotten. RIP.
